April 1, 1998 Bank of Canada Announces Appointment of Special Adviser Media Relations Professor David Laidler of the University of Western Ontario has been chosen to fill the newly-created visiting economist position of Special Adviser in the Bank of Canada for a one-year term beginning in August 1998. Content Type(s): Press, Press releases
March 25, 1998 The Future Performance of the Canadian Economy Remarks Gordon Thiessen Canadian Club of Winnipeg Winnipeg, Manitoba It can take anywhere from one to two years for monetary actions to have their full effect on the economy. Because of this, the conduct of monetary policy must be based on a view of what the economy will be like - not tomorrow, not in a month - but rather in one to two years' time. Content Type(s): Press, Speeches and appearances, Remarks
February 24, 1998 Inflation-Control Targets Extended Media Relations The Bank of Canada today released a joint statement of the Government of Canada and the Bank of Canada on the extension of the inflation-control targets. Content Type(s): Press, Press releases
February 5, 1998 International developments and the prospects for the Canadian economy Remarks Gordon Thiessen Saint John, New Brunswick A year ago, in early 1997, prospects for global economic growth were very promising. World economic activity had strengthened and was expected to accelerate further, with the benefit of low inflation, reduced fiscal imbalances, and stable or declining interest rates. In Canada too, output and employment growth had picked up. Content Type(s): Press, Speeches and appearances, Remarks
January 30, 1998 Bank Rate Raised to 5 Per Cent Media Relations Ottawa, Ontario The Bank of Canada today raised its Bank Rate by ½ of one percentage point to 5 per cent. Content Type(s): Press, Press releases
January 29, 1998 Annual Report 1997 With inflation remaining low for the sixth consecutive year, the Canadian economy recorded a strong expansion of about 4 per cent through 1997. Content Type(s): Publications, Annual Report
January 14, 1998 Bank of Canada Review - Winter 1997-1998 Cover page Mafeking siege note This ten-shilling note measures 6 1/4 by 5 3/4 inches and forms part of the National Currency Collection, Bank of Canada. Photography by James Zagon. Content Type(s): Publications, Bank of Canada Review
December 30, 1997 Bank Releases Guideline for Regulatory Oversight Under Payment Clearing and Settlement Act Clyde Goodlet The Bank of Canada today released a guideline outlining how it intends to carry out its responsibilities under the Payment Clearing and Settlement Act (PCSA). Content Type(s): Press, Press releases
December 14, 1997 Recent economic and financial developments Bank of Canada Review - Winter 1997-1998 The Canadian economy expanded at an average rate of over 4 per cent through the second half of 1996 and the first three quarters of 1997. The expansion was supported by accommodative monetary conditions, substantial employment gains, low inflation, an improved fiscal postion, and strong U.S. demand. These factors will continue to underpin a scenario of sustained growth in output and employment in the period ahead. With the situation in Asia still evolving, it is difficult to be precise about the size of its overall impact on Canada. At the same time, there have been some positive developments including stronger-than-anticipated economic performance in the United States, Mexico, and Europe and declining longer-term interest rates in most industrial countries. The core rate of inflation slipped slightly below the 1 to 3 per cent target range in the closing months of 1997. With the unwinding of some of the special factors that contributed to the decline, trend inflation is expected to move back inside the range in coming months. Content Type(s): Publications, Bank of Canada Review articles
December 13, 1997 The overnight market in Canada Bank of Canada Review - Winter 1997-1998 Eugene Lundrigan, Sari Toll The overnight market is an active forum where participants with a temporary surplus or shortage of funds can lend or borrow until the next business day. The level of interest rates in the overnight market has always been closely linked to the Bank of Canada's monetary policy operations. In this article, the authors describe the evolution of the market from its roots in the 1950s, the development of the Bank's monetary policy operations in the market, and how the market operates today. They also examine the outlook for the overnight market, particularly the implications of the new Large-Value Transfer System. Content Type(s): Publications, Bank of Canada Review articles